Another 'giveback' by HCF takes total to almost half a billion dollars

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HCF has announced that it will return another $136 million in cash to its members.

The company said this additional giveback means it will have provided $495 million in pandemic-related savings to members of HCF, RT Health and Transport Health.

HCF has also deferred this year’s premium increase until 1 September 2023, saving members $59 million.

CEO Sheena Jack said, “As a not-for-profit, we are continually putting our money where our members are and this is another key example of how we put our members before profit.

“We received a lot of positive feedback about our cash give back prior to Christmas last year. This time members should expect we’ll return the pandemic savings into their bank accounts later in the year again.

“I am really pleased that we can pass on the COVID savings in full to our members especially at a time when they’re feeling financial pressure on many fronts.

“Regardless of the pandemic situation, HCF still paid out almost $3 billion in hospital and extras claims last financial year with 98 per cent of medical services covered in hospitals with no or a known gap further supporting members in their time of need.”

The company said members will be notified with specific details on the amount they will receive.